ITEM TITLE:
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Receive a request for the Lawton/Fort Sill Chamber of Commerce regarding the allocation of the City’s FY 2025 Hotel/Motel Tax Fund and take action as deemed necessary.
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INITIATOR: John Ratliff, City Manager
STAFF INFORMATION SOURCE: John Ratliff, City Manager
BACKGROUND: City Council approved the FY 2025 budget on June 3, 2024, which included $2,229,667 in anticipated hotel/motel tax revenue. Staff has re-evaluated these projections and believes the City will receive an additional $89,952 in hotel/motel tax revenue for FY 2025. $322,619 of this revenue is generated within TIF 2, leaving $1,997,000 in unallocated revenue. Section 10-12-1221 of the Lawton City Code requires the City to appropriate the revenue for the exclusive purposes of encouraging, promoting, and fostering conventions, tourism, industrial development and economic development in the City of Lawton. At this time, Lawton/Fort Sill Chamber of Commerce President, John Michael Montgomery will present a request regarding the proposed allocation of funding. This is a companion item to adopt, modify, or revise the City Manager’s FY 2025 hotel/motel tax recommended expenditure list also on this agenda.
EXHIBIT: None.
KEY ISSUES: N/A
FUNDING SOURCE: FY 2025 Hotel/Motel Tax Revenue
STAFF RECOMMENDED COUNCIL ACTION: Receive a request for the Lawton/Fort Sill Chamber of Commerce regarding the allocation of the City’s FY 2025 Hotel/Motel Tax Fund and take action as deemed necessary.